Post on 22-Nov-2021
Presentation Q3 Report 2021
“Strong order growth and our remediation measures completed in Germany”
Mattias Perjos, President & CEO
Lars Sandström, CFO
October 20, 2021
• Strong organic order growth
• Net sales down vs record Q3 2020
• Adj EBITA margin 18.4%
• Strong Free Cash Flow
• Solid financial position
Q3 2021
Key takeaways – a strong quarter from a financial perspective
October 20, 2021
52
Q2 2
019
Q1 2
019
Q4 2
020
Q3 2
019
Q1 2
021
Q4 2
019
Q1 2
020
Q2 2
020
Q3 2
020
Q2 2
021
53.0
Q3 2
021 0
15
Q4 2
020
Q1 2
019
Q2 2
019
Q3 2
019
Q4 2
019
Q1 2
020
Q2 2
020
Q3 2
021
Q3 2
020
Q1 2
021
Q2 2
021
19.0
Getinge │ Presentation │ Q3 Report 2021
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R12 Gross Margin (adj) % R12 EBITA Margin (adj) %
25,000
0
Q2 2
019
Q1 2
019
Q3 2
019
Q4 2
019
Q1 2
020
Q2 2
020
Q3 2
020
Q4 2
020
Q1 2
021
Q2 2
021
27,901Q
3 2
021
R12M Net Sales, MSEK
Strengthening the offering further
• Launch of Rotaflow II for ECMO-therapy
• Launch of the unique Volista VisioNIR-
functionality for surgical light
• Acquisition of advanced technology
for biological indicators from Verrix
The improvement journey continues
• Remediation measures completed in Germany
• Capacity increase in Life Science is progressing
according to plan
October 20, 2021
Getinge │ Presentation │ Q3 Report 2021
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Key activities and eventsQ3 2021
In all Business Areas and regions
Strong organic order growth in Q3
Americas EMEA APAC
Organic Order Growth
+21.8%
Organic Net Sales Growth
-20.1%
Global
October 20, 2021
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October 20, 2021
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Outlook 2021
Net sales is expected to be at least 27 BSEK
Strong organic order growth in all Business AreasOrder Intake – Bridge Q3 2020 – Q3 2021
545204
432
Q3 2020
5,898
Life ScienceAcute Care
Therapies
Surgical
Workflows
7,079
Q3 2021
MS
EK
+18.6% +29.6% +24.6%Organic change +21.8%
October 20, 2021
Getinge │ Presentation │ Q3 Report 2021
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6,678
Q3 2019
Life Science grows net sales by 17.5% organicallyNet Sales – Bridge Q3 2020 – Q3 2021
120
Acute Care
Therapies
-73
Life Science
7,976
Q3 2020
-1,718
6,306
Surgical
Workflows
Q3 2021
MS
EK
-31.6% +17.5% -2.9%Organic change -20.1%
October 20, 2021
Getinge │ Presentation │ Q3 Report 2021
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6,236
Q3 2019 -41.2
ConsumablesCapital
Goods
Org
anic
gro
wth
, %
7.8
-77Currency impact, MSEK
Margin improvement in Life Science and Surgical WorkflowsAdjusted Gross Profit – Bridge Q3 2020 – Q3 2021
66 22
-1,132
4,378
Q3 2020 Acute Care
Therapies
Life Science Surgical
Workflows
3,334
Q3 2021
MS
EK
60.7
(62.4)
44.3 41.7Adj GM, %
Q3 2021(Q3 2020)
52.9
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Getinge │ Presentation │ Q3 Report 2021
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(57.4)(Q3 2019) (40.4) (43.3) (50.8)
3,171
Q3 2019
Gross Margin impact
Volume
Currency
Product mix
Factory absorption
(42.6) (39.0) (54.9)
Margin development-1.9 pp GP
-3.5 pp OPEX
-0.8 pp D&A
-0.8 pp Currency
Adj EBITA down vs Q3 2020 but up more than 70% vs Q3 2019Adjusted EBITA – Bridge Q3 2020 – Q3 2021
October 20, 2021
25.4% 18.4%
59 33 9 36 39
-1,044
1,160
2,028
Adj SellingQ3 2020 Adj Gross
profit
Adj Admin OtherAdj R&D D&A Q3 2021
MS
EK
-868
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677
Q3 2019
-64Currency impact, MSEK
October 20, 2021
Strong free cash flow and good control of working capitalContinued efficiency enhancements
Strong Free Cash Flow
110
90
0
100
120
140
130
Q4 2
020
Q1 2
018
Q2 2
020
Q1 2
021
Q4 2
017
Q2 2
018
Q3 2
018
Q1 2
019
Q2 2
019
Q3 2
019
Q4 2
019
Q1 2
020
Q3 2
020
Q2 2
021
Q3 2
021
Q4 2
018
Reduction
of -39 days
WC days well below 100
Working Capital Days LTM
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Working Capital, as defined on this page, is including accounts receivables, accounts payables and inventory - adjusted for currencyROIC: Trailing 12 month adjusted EBIT/Invested Capital. Invested Capital is equal to (Invested capital is defined as Equity + Net debt (excl. pension liabilities) and calculated as (Opening balance + Closing balance of Invested Capital)/2.
High Return on Invested Capital
Q4 2
019
Q1 2
020
7.5%
Q2 2
019
Q3 2
021
Q3 2
019
Q2 2
020
18.8%
Q4 2
020
Q3 2
020
Q1 2
021
Q2 2
021
Operating ROIC LTM
2.0
2.3
1.6
Q2 2
021
Q3 2
020
Q4 2
020
Q1 2
021
1.2 1
.4Q
3 2
021
Free Cash Flow, BSEK
October 20, 2021
Solid financial positionStrengthened even further
Improved net debt …
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… and leverage
3.4x
Q1 2
019
Q2 2
019
Q3 2
019
Q2 2
020
Q4 2
019
Q1 2
020
Q3 2
020
Q4 2
020
Q2 2
021
Q1 2
021
0.6x
Q3 2
021
Net debt/Adj EBITDA R12
(0.1x excluding
pension liabilities)
Q3 2
021
Q3 2
020
14.0
Q1 2
019
Q1 2
020
Q2 2
019
Q3 2
019
Q2 2
020
Q4 2
019
Q4 2
020
Q1 2
021
Q2 2
021
4.1
Net debt, BSEK
• Strong organic order growth
• Good activity level and progress on strategy implementation
• EBITA margin adjusted for Covid-19 continues to improve
• Solid financial position
Summary Q3 2021
Key takeaways
October 20, 2021
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This document contains forward-looking information based on the current expectations of the Getinge’s management.
Although management deems that the expectations presented by such forward-looking information are reasonable, no
guarantee can be given that these expectations will prove correct. Accordingly, the actual future outcome could vary
considerably compared with what is stated in the forward-looking information, due to such factors as changed conditions
regarding business cycles, market and competition, changes in legal requirements and other political measures, and
fluctuations in exchange rates.
Forward looking information
October 20, 2021
Getinge │ Presentation │ Q3 Report 2021
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